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  HOME | Business & Economy (Click here for more)

Alibaba Unveils Singles Day Shopping Festival for 2017

SHANGHAI – Chinese e-commerce giant Alibaba announced on Tuesday the ninth edition of its sales festival 11.11 or Singles’ Day, in which it aims to surpass last year’s one day sales figure of 120.7 billion yuan ($17.8 billion).

In a show in Shanghai, the company demonstrated some of the activities planned for Nov. 11, which holds the record for highest online sales in a single day worldwide.

CEO Daniel Zhang said the company was hoping to replicate globally the immense popularity of the festival in China.

Through Alibaba’s online sale portals Tmall and Taobao, more than 140,000 brands – including 60,000 international ones – will offer more than 15 million products for the shopping spree, including promotions on AliExpress, the group’s international website.

The festival, which began in 2009 with the participation of 27 brands and a revenue of around 52 million yuan, grew to incorporate more than 100,000 brands last year.

Cainiao, the logistics arm of the group, processed 657 million orders, which had peaked to the speed of 175,000 orders per second at one point.

The shopping festival will be preceded by a gala night in Shanghai, in which Asian and international artistes, including Pharrell Williams, are set to perform.

The date 11.11 is 18 times bigger than Amazon’s special sales day and its sales figure is 2.5 times higher than the Black Friday and Cyber Monday – the biggest shopping festivals in the United States – put together.

 

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